Some states would only cover $250,000 per annuitant. Alcoa Corp., Pittsburgh, agreed to purchase a group annuity contract to transfer $55 million in pension plan assets to an insurance company. Learn about Alcoa Retirement Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Alcoa employees . Youll want to contact them directly either through their HR service center website (many of which offer chat support, if needed) or by contacting the HR service center directly. Argentina. For example: Please visit the official company website directly to verify all benefit options and details.. Your spouse, or other named beneficiary, will need to call Alcoa's benefits service center to collect life insurance benefits. 1-888-ALCOA123 This automated telephone system is available 24 hours. As of 2020, they have a record of almost 13,000 employees in their organization. Also, our benefit advisors are trained regarding See our FAQs for answers to common questions.Search below to find your companys HR website. Alcoa Purchases Group Annuity Contracts for Certain U.S. Pension Plans When you need to draw on your IRA for income or take your RMDs, you have a few choices. For example: Reinventing the aluminum industry for a more sustainable future includes the work we do and the supplier partners we identify throughout our three product segments . Thats how Alcoa will know whom to send your final compensation and benefits. With an unrelenting focus on consistent improvement, we are working to show the world what a sustainable aluminum company truly looks like. First, you select the target contribution rate you want to reach at some point in the future. Unfortunately, many people dont take full advantage of the employer match because theyre not putting in enough themselves. Employer Verified. They may be eligible to the following benefits once they are qualified: Please note that the full list of benefits available to new employees varies from location to location due to differences in local laws, regulations, and customs and may change at any time. In order to maintain the same standard of living through retirement, you will have to factor rising costs into your plan. Various energy companies calculate the offset formula differently, which is why it's important to contact an advisor who knows your specific plan for Alcoa. Some people continue to work to make up for poor performance of their savings and investments. This could mean a potential savings of over 30%. Doing so makes enrollment quick and easy, and allows document.write("